According to the new market research report "Recycled Carbon Fiber Market by Type (Chopped Recycled Carbon Fiber, Milled Recycled Carbon Fiber), Source (Aerospace Scrap, Automotive Scrap), End-use Industry and Region (North America, Europe, APAC, MEA and Latin America) - Global Forecast to 2026”, the global Recycled Carbon Fiber Market size is projected to grow from USD 126 million in 2021 to USD 222 million by 2026, at a CAGR of 12.0% during the forecast period. The recycled carbon fiber market is growing due to the rise in the demand for cost-effective and high-performance materials, and stringent government regulations globally.
The growth of the recycled carbon fiber market in the Asia Pacific is driven by the increasing consumption in the wind energy, construction & infrastructure, aerospace & defense, consumer goods, automotive & transportation, and industrial sectors. The market in these end-use segments is led by China, Japan, and South Korea, and other countries. Due to continuous technological advancements, the demand for lightweight and high-strength materials is increasing. The high economic growth in these countries, along with high urbanization, industrialization, and increased standards of living also play a crucial role in the adoption of fuel-efficient, cost reducing machinery, thus promoting the need for fuel-efficient automobiles as well.
Some of the key players in the global recycled carbon fiber market are Toray Industries Inc. (Japan), ELG Carbon Fibre Ltd. (UK), SGL Carbon (Germany), Karborek Recycling Carbon Fibers (Italy), Carbon Conversions Inc. (US), Carbon Fiber Recycling, Inc. (US), Shocker Composites LLC. (US), Procotex Corporation SA (Belgium), Alpha Recyclage Composites (France), Carbon Fiber Remanufacturing (US), and Vartega Inc. (US).
